524128 - Other Direct Insurance (except Life, Health, and Medical) Carriers
Are you involved in the insurance industry or looking to understand the classification of specific insurance carriers? NAICS code 524128 — Other Direct Insurance (except Life, Health, and Medical) Carriers — plays a crucial role in defining a unique segment of the insurance market. This code is essential for businesses, government agencies, and contractors seeking to identify or engage with insurance providers that specialize beyond the life, health, and medical sectors.
What is NAICS Code 524128?
NAICS code 524128 represents establishments primarily engaged in underwriting and assuming the risk for types of direct insurance excluding life, health, and medical insurance. This sector includes a broad array of insurance carriers offering protection such as property, casualty, warranty, and other specialized insurance products.
Sector Overview: Finance and Insurance
This NAICS code falls under the Finance and Insurance sector, which encompasses companies providing financial transactions, insurance underwriting, and risk management services. Specifically, code 524128 focuses on niche insurance carriers that cover risk areas not included under traditional life and health insurance.
Typical Business Activities under 524128:
- Property and casualty insurance underwriting
- Surety insurance issuance
- Title insurance services
- Warranty insurance for appliances, automobiles, and products
- Specialized insurance such as burial, funeral, and homeowners’ warranty insurance
These businesses play a pivotal role in protecting individuals and businesses from various risks that don’t fall under life, health, or medical categories.
NAICS Code 524128 Size Standard
For small business considerations and government contracting purposes, the size standard for NAICS 524128 is:
- $47 million in average annual receipts
This threshold is critical for companies aiming to qualify as a small business under SBA regulations when bidding on contracts or securing government assistance.
Examples of Businesses in NAICS 524128
- Property and Casualty Insurance Carriers: Companies underwriting insurance policies for homes, automobiles, and commercial properties.
- Title Insurance Carriers: Insurers ensuring the legitimacy of property titles during real estate transactions.
- Surety Insurance Carriers: Providers that guarantee contractual obligations, often involving bonds for construction projects or government contracts.
- Specialized Warranty Insurance Carriers: Businesses offering warranties and insurance on products ranging from appliances to automobiles.
NAICS Code 524128 - Code Details Table
| Code Detail | Description |
|---|---|
| Bank deposit insurance carriers, direct | Insurance for bank deposits to protect depositors |
| Burial insurance carriers, direct | Insurance covering burial expenses |
| Contact lens insurance, direct | Specialized insurance for contact lenses |
| Deposit or share insurance carriers, direct | Protection for deposits or shares in credit unions or banks |
| Funeral insurance carriers, direct | Insurance to cover funeral costs |
| Homeowners' warranty insurance carriers, direct | Warranty insurance specifically for homeowners' repairs or replacements |
| Pet health insurance carriers, direct | Insurance for pets’ veterinary and health costs |
| Product warranty insurance carriers, direct | Warranty for products to cover repair and replacement |
| Warranty insurance carriers, direct | Broad class of insurance providing warranties (appliance, automobile, homeowners') |
Frequently Asked Questions (FAQ)
What types of insurance are excluded from NAICS 524128?
This code excludes life insurance, health insurance, and medical insurance carriers, focusing instead on property, casualty, warranty, and other direct insurance types.
Can my business qualify as small under NAICS 524128?
Yes, if your business’s average annual receipts are $47 million or less, you qualify as a small business under SBA standards for this NAICS code.
How can understanding NAICS 524128 help my business?
Identifying your business under this NAICS code aids in targeting government contracts, market research, networking, and qualifying for small business programs.
Does NAICS 524128 include pet insurance?
Yes, pet health insurance carriers fall under this code, covering veterinary and health-related pet insurance.
Are warranty insurance carriers included?
Absolutely. Warranty insurance for appliances, autos, homeowners, and other products are a key industry segment under this classification.
Conclusion
NAICS code 524128 encapsulates a dynamic range of direct insurance carriers that provide essential risk management services apart from life, health, and medical insurance. Whether you’re a business owner, supplier, or government contractor, understanding this NAICS code can unlock new opportunities within the finance and insurance sector, especially in property, casualty, and specialty insurance markets.
If your company operates within these insurance niches, leveraging NAICS 524128 in your business profile can be a strategic step toward growth and government contracting success.
Keywords: NAICS 524128, direct insurance carriers, property insurance, casualty insurance, warranty insurance, finance and insurance sector, small business size standards, specialized insurance products, surety insurance, title insurance
